Income Tax Regulations (C.R.C., c. 945)

PART LXXXVIIIDisability-related Modifications and Apparatus

8800 The renovations and alterations that are prescribed for the purposes of paragraph 20(1)(qq) of the Act are

• (a) the installation of

  • (i) an interior or exterior ramp, or

  • (ii) a hand-activated electric door opener; and

• (b) a modification to a bathroom, elevator or doorway to accommodate its use by a person in a wheelchair.

8801 The devices and equipment that are prescribed for the purposes of paragraph 20(1)(rr) of the Act are

• (a) an elevator car position indicator, such as a braille panel or an audio signal, for individuals having a sight impairment;

• (b) a visual fire alarm indicator, a listening device for group meetings or a telephone device, for individuals having a hearing impairment; and

• (c) a disability-specific computer software or hardware attachment.

PART LXXXIXEntities Prescribed with Respect to Certain Rules

International Organizations

• 8900 (1) For the purposes of subparagraph 110(1)(f)(iii) and paragraph 126(3)(a) of the Act, the following international organizations are prescribed:

  • (a) the United Nations; and

  • (b) each international organization that is a specialized agency brought into relationship with the United Nations in accordance with Article 63 of the Charter of the United Nations.

International Non-governmental Organizations

• (2) For the purpose of subparagraph 110(1)(f)(iv) of the Act, the following international non-governmental organizations are prescribed:

  • (a) the International Air Transport Association;

  • (b) the Société internationale de télécommunications aéronautiques; and

  • (c) the World Anti-Doping Agency.

8901 [Repealed, 2013, c. 34, s. 412]

PART LXXXIX.1Eligible Entities Prescribed for COVID-19 Wage Subsidy

8901.1 For the purposes of paragraph (f) of the definition eligible entity in subsection 125.7(1) of the Act, the following entities are prescribed:

• (a) a corporation that meets the following conditions:

  • (i) it is described in paragraph 149(1)(d.5) of the Act,

  • (ii) not less than 90% of the shares, or the capital, of the corporation are owned by one or more Aboriginal governments (as defined in subsection 241(10) of the Act) — or similar Indigenous governing bodies — described in paragraph 149(1)(c) of the Act, and

  • (iii) it carries on a business;

• (b) a corporation that meets the following conditions:

  • (i) it is described in paragraph 149(1)(d.6) of the Act,

  • (ii) all of the shares (except directors’ qualifying shares), or the capital, of the corporation are owned by one or more of

    • (A) an Aboriginal government (as defined in subsection 241(10) of the Act) — or a similar Indigenous governing body — described in paragraph 149(1)(c) of the Act, or

    • (B) a corporation described in this paragraph or paragraph (a), and

  • (iii) it carries on a business;

• (c) a partnership, each member of which is

  • (i) an eligible entity, or

  • (ii) an Aboriginal government (as defined in subsection 241(10) of the Act) — or a similar Indigenous governing body — described in paragraph 149(1)(c) of the Act;

• (d) a partnership, in respect of a qualifying period, if throughout the qualifying period it is the case that

  A ≤ 0.5B

  where

  A

  is the total of all amounts, each of which is the fair market value of an interest in the partnership held — directly or indirectly, through one or more partnerships — by a person or partnership other than an eligible entity, and

  B

  is the total fair market value of all interests in the partnership;

• (e) a person described in paragraph 149(1)(g) or (h) of the Act; and

• (f) a person or partnership that operates a private school or private college.

8901.2 [Repealed, 2020, c. 11, s. 4]

PART XCFinancial Institutions — Prescribed Entities and Properties

Prescribed Person not a Financial Institution

9000 For the purposes of paragraph (e) of the definition financial institution in subsection 142.2(1) of the Act, the following are prescribed persons:

• (a) the Business Development Bank of Canada;

• (b) BDC Capital Inc.; and

• (c) a trust, at any particular time, if at that particular time

  • (i) the trust is a related segregated fund trust (within the meaning assigned by paragraph 138.1(1)(a) of the Act),

  • (ii) the trust is deemed, under paragraph 138.1(1)(a) of the Act, to have been created at a time that is not more than two years before that particular time, and

  • (iii) the cost of the trustee’s interest (as determined by paragraph 138.1(1)(c) and (d) of the Act) in the trust does not exceed $5,000,000.

Prescribed Property not Mark-to-Market Property

• 9001 (1) In this section, qualified small business corporation, at any time, means a corporation in respect of which the following conditions are satisfied at that time:

  • (a) the corporation is a Canadian-controlled private corporation;

  • (b) the corporation either is an eligible corporation (as defined in subsection 5100(1)) or would be an eligible corporation if the definition eligible corporation in subsection 5100(1) were read without reference to its paragraph (e);

  • (c) the carrying value of the total assets of the corporation and all corporations related to it (determined in accordance with generally accepted accounting principles on a consolidated or combined basis, where applicable) does not exceed $50,000,000; and

  • (d) the number of employees of the corporation and all corporations related to it does not exceed 500.

• (2) For the purpose of paragraph (e) of the definition excluded property in subsection 142.2(1) of the Act, a share of the capital stock of a corporation is a prescribed property of a taxpayer if

  • (a) immediately after the time at which the taxpayer acquired the share, the corporation was a qualified small business corporation, and

    • (i) the corporation continued to be a qualified small business corporation for one year after that time, or

    • (ii) the taxpayer could not reasonably expect at that time that the corporation would cease to be a qualified small business corporation within one year after that time; or

  • (b) the share was issued to the taxpayer in exchange for one or more shares of the capital stock of the corporation that were, at the time of the exchange, prescribed property of the taxpayer under this subsection.